There’s THOUSANDS of companies in operation. Hundreds upon hundreds are newly formed each year. MANY of THOSE are simply incorporated to bilk investors out of money.
Considering the sheer number of scam companies out there that still exist, there’s not ENOUGH oversight.
The fact that 90% of the companies that get nabbed and then earmarked for revocation NEVER EVEN SHOW UP FOR THE REVOCATION HEARING? THAT tells the story.
The SEC doesn’t need to be handcuffed in their efforts to remove these types of companies. Far from it. They need MORE power to do it.
That fact DBMM was able to get so far in this process after not filing for almost 3 YEARS says VOLUMES. Makes one wonder just what exactly Foelak was thinking.
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